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Feb 2, 2013 10:00am PST
look? that debate was sound from the president and his challenger, mitt romney, a foreign policy debate about defense spending cuts in the sequester happening at the beginning of the year. if it's going to happen, just not at the beginning of the year, that what's it going to look like and what's it going to do to the economy? >> i think there are going to be -- we're in a period of retrenchment at the state, local, and federal level. the government is shrinking. the revenues are low. i mean, every pressure is going in that way. i think it probably will not end up looking like this just automatic across the board cuts but you're likely to have at the least very hard freezes on all forms of spending in nominal dollars so nobody can spend any more than they spent in the last year or even if there were inflation. >> greg? >> well, i would add that ironically the budget deficit is falling, certainly as a percentage of gdp. and we will get next week i think on the tuesday from the congressional budget office new budget figures that show that, in fact, the deficit is dropping and dropping pre
Search Results 0 to 1 of about 2 (some duplicates have been removed)